Many businesses – even those considered financially ‘good businesses’ – will need to restructure at some stage in their lifecycle.
The triggers can be diverse: from internal factors like poor internal controls, significant cost overruns on major projects, loss of major customers, management or key suppliers to more complex, often sudden, macroeconomic ones, like a changing economic landscape, pandemics like COVID-19 or a GFC. The skills required to manage this major shift in business model are very different to those expected of a CEO and management in their day-to-day roles.
Our team is experienced in dealing with urgent crises to your business and helping clients navigate through these challenges. However, improving your performance doesn’t just have to happen on major transformations. These same skills can be successfully applied early in the business lifecycle with a focus on improving profitability and enhancing growth, and protecting the business from external pressures and shocks.
Increasing your profitability and commercial performance overall can mean different things to different businesses. It needs to be a balance between your strategic plans, operations, ambitions and opportunities, with understanding of your risk areas, and underpinned by your financial situation.
Continual improvement, marginal gains
Regularly, the most effective way for improving business profitability in a competitive – or unpredictable – environment is actually not to make one or two major changes. While these can improve profitability in some cases, it is rarely a long-term strategy or solution.
Successful businesses are ones that adopt a culture of continuous improvement: where each business process is regularly dissected to identify opportunities for optimal change, where marginal gains are the goal. Identifying even a one per cent improvement to some part of the business can equate to significant dollar savings – for some businesses this can be hundreds of thousands to millions of dollars – impacting the bottom line.
How we help
Our team is made up of financial, turnaround and optimisation experts, focused on helping clients to improve profitability and address challenges facing the business. We develop initiatives tailored to your industry, to help your business find opportunities for growth and increase business value.
We work alongside clients to help them navigate challenges, protect and grow their businesses, including:
- liaising with your key stakeholders including the Bank / ATO / key creditors
- refinancing your current debt
- identifying opportunities to reduce your expense base
- challenging your revenue model
- challenging your current strategy
- holding regular meetings to ensure that the restructure/profit improvement strategy remains on track.
